Bond Yields and Economic Downturns | Page 4 | General financial discussion | Discussion forum

I agree that rates have to stay low because higher interest rates would trigger defaults, low rates are just prolonging the party for a while. But any political party that says it's cutting spending to tackle gov't debt is immediately toast, we vote for those who tell us the party continues. So to me it's incorrect to blame politicians, we regularly choose those who promise us the most freebies - it's very important to point that out, especially to young voters who will be the ones around to live through the consequences of voting choices they're making now. To me the next phase is that those with any money increasingly will be targeted (you now regularly hear calls from certain parties to tax "the rich"), will be relieved of it one way or another (savers, don't let people know you've got savings, you'll be viewed as an opportunity for "appropriation"), i.e. still lots of folks with some money in the bank and its forced re-distribution will keep the party going for a while yet.

Retiredfa said
Margaret Thatcher: “The problem with socialism is that you eventually run out of other people's money.”  

There was a lot that Maggie and Ronnie chose not to understand.
The risk we face now is the increasing concentration of wealth stagnating in the hands of the few. There is no end to the favours they think they are owed, be it bailouts, legal manoeuvres, or tax considerations; and they can be counted on to oppose wage increases for those at the bottom of the heap.
https://globalnews.ca/news/4360299/wealth-inequality-canada/

The world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etc are overflowing 24/7, our houses/vacation homes are bigger and more luxurious, Gates and Buffet and other ultra-rich giving most of their dough away now and when they die, my eyes see little evidence (notwithstanding Toronto Star or curated stats) of the concentration of wealth in the hands of the few. Especially when I compare to the world I saw back in the 1960s, it's like another planet. However (to my surprise) what remains always constant is the envy many clearly feel for anyone above them on wealth's ladder. To be fair, though, there are many folks whose primary sensibility is gratitude for this plush modern life we 99% enjoy.

Kidd said
Yeah Loonie, i'm not fond of the Liberals either  

Touche!

Vatox, the Roaring 20s lasted a few short years while the world, 1st on over to 3rd, has seen unprecedented lifting of living standards over many decades now, never seen among the 99% before. (rodeworthy, as communism showed, redistribution only works if wealth for redistribution has been created in the first place. Gates had to live in a free economy that allowed him to amass his billions before he could redistribute much of it.) 2/3 of humans have a cell phone, it's incredible. The Star, Globe and CBC won't tell you that but the global economic numbers and stats are unequivocal in every measure, thousands lifted out of poverty almost every passing hour. People should be very proud of what we're accomplishing, dire poverty is on the run and the parents who now can feed their kids and have basic health care couldn't care less if another result has been a relatively few individuals with ludicrous wealth. Don't let your envy of the few above you on the ladder cloud your view of what's happened to the 99%.